• 15-Year VA Fixed Mortgage


    15-Year VA Fixed Mortgage

    Rate Points APR
    2.750% 0.000 3.324%
    2.625% 1.000 3.347%
    2.500% 1.750 3.333%
    Payment example of loan with 0.000 points
    • For home purchases or refinancing
    • Loan amounts available up to $417,000 and higher based on VA County limits. Click here for list.
    • Offers not available on investment properties
    • See disclosure below or click on rate above for payment example
    • Free 60-day rate lock* 

    Applicant is responsible for VA funding fee. 

    All Fixed Rate Mortgage Programs: The application of additional loan level pricing adjustments will be determined by various loan attributes to include but not limited to the loan-to-value (LTV) ratio, credit score, transaction type, property type, product type, occupancy, and subordinate financing.

    Conforming Mortgages: For loan amounts from $25,000 to $417,000 (Loan amounts up to $625,500 are available in Alaska and Hawaii). The maximum combined loan- to-value (CLTV) is 95%; 80% LTV and above are subject to private mortgage insurance (PMI). The maximum LTV and CLTV for condominiums is 80%.

    *For purchase applications, please submit a copy of your fully signed ratified purchase agreement to lockrate@penfed.org in a timely manner to ensure PenFed can meet your closing date.

    The applicant is responsible for the following fees and costs at the time of closing: Origination fee, appraisal fee, tax service fee, CLO access fee, title fees, transfer tax fees, credit report fee, flood cert fee, recording fee, survey if required and work verification fee, escrow reserves and interest due until first payment, other cost may be included due to program specific circumstances. This is not intended to be an all-inclusive list.

    Escrows may be waived if LTV is 80% or less in all states.

    Borrowers are required to have sufficient reserve assets available to cover 6 months full payments including principal, interest, homeowner’s insurance, property taxes and homeowner associated dues and/or mortgage insurance, if applicable. For non-primary residences, we require 12 months of reserve assets.

    If a loan is withdrawn, the applicant may not reapply for at least 90 days from the date the application was withdrawn.

    All rates and offers are in effect as of October 1, 2016, offered for a limited time and subject to change without notice. Restrictions apply to existing PenFed mortgage borrowers. Other restrictions may apply. Contact your PenFed mortgage consultant for any applicable additional restrictions and details about your loan. To receive any advertised product you must become a member of PenFed by opening a share (savings) account. Federally insured by the NCUA.

    We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.